The price of the popular cryptocurrency XRP went green against Bitcoin today. According to Binance data, the current XRP price rose against BTC by over 1%.
Current Market Conditions
The price of Bitcoin fell by over 2.25% today amid the opening of the U.S. stock market, losing key levels at $57,800 one after another. Meanwhile, the price of XRP also declined by 1%, but it remains stronger compared to other top 10 cryptocurrencies in the market.
Historical XRP Growth
Currently, the price of XRP shines green against the first cryptocurrency, continuing a trend that started at the beginning of July. Since then, the price of XRP has gained 27.36% to current levels and 53.49% at the peak in early August.
Future Prospects
Looking at the price chart of XRP against Bitcoin, one can see how it seems to be gearing up for a big move, currently accumulating in a tight, narrow range. The last time such big moves were observed was in early July and August, with 27% and 20% candlesticks, respectively. The current trend shows that for the last two months, XRP has skyrocketed against Bitcoin in price at the beginning of each month. With September 3 on the calendar, can market participants expect a continuation of this trend this month?
At the moment, the price of XRP demonstrates significant resilience against Bitcoin despite the overall market downturn. Whether this trend will continue in September remains to be seen.
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